2023-09-16 21:54:49
German entertainment giant Eventim and Delek Israel, controlled by Lahav AL and B.G.M., have officially signed a deal to purchase the renowned “Zappa” chain of music clubs. The deal, estimated at a value of approximately 5.5 billion Euros, includes the successful Zappa Ampi Shoni in Binyamin. News of the acquisition was published on the “Ace” website.
Under the agreement, Eventim will invest around NIS 15 million into Zappa and, along with Delek Israel, will hold a 60% stake in the chain. Golan Einat Yazar, the current controlling owner, will see his share dilute from 90% to 40% as a result of the deal. Eventim and Delek Israel have plans to expand Zappa’s presence in additional locations throughout Israel.
Golan had initially acquired a 40% stake in Zappa in 2014 for NIS 60 million, eventually increasing his ownership to 100% for NIS 80 million. The current deal values Zappa at NIS 85 million. The chain faced significant setbacks during the COVID-19 pandemic when its clubs were forced to close for an extended period. The partnership with Eventim and Delek Israel is expected to help overcome the financial difficulties caused by the closure.
Currently, Zappa operates eight live performance clubs in Tel Aviv, Hoshea Gardens Park, Haifa, Jerusalem, Beer Sheva, Herzliya, Live Park in Rishon Lezion, and Amphi Shuni. The chain also collaborates with concert complexes and has plans for expansion under the new ownership structure.
Established in 2004, the Zappa chain operates in four main areas: locations, festivals and original productions, a ticket office, and a company for private and business events. It manages the cultural area of the Alma Hotel in Zichron Ya’akov and is responsible for ticket sales and event placement. The chain also produces entertainment events outside of its clubs. The network is named after the renowned American composer, guitarist, and singer Frank Zappa.
The current music season at Zappa Ampi Shawni will conclude at the end of October. Many successful artists are expected to perform, including Avishai Cohen, Shuli Rand, Synergy with Arkadi Duchin, Shalom Hanoch and Mati Caspi, Yasmin Moalem, Idan Habib, Jane Bordeaux, and Avraham Tal.
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